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Today’s Mortgage Process & Programs | 3 Hours CE or Post License
January 8 @ 9:30 am - 12:30 pm
There are many mortgage products available for the homebuying public, homeowners and investors.
Most homebuyers, probably need a loan to fund the purchase of their home. But shopping for a mortgage is a lot like shopping for a home—there are different options that cater to different needs, and you will want to help your buyer client connect with a local mortgage planner (mortgage originator) to find the one that fits their financial priorities.
There are many mortgage products available for the homebuying public, homeowners and investors. Many types of mortgage loans exist, and they are designed to appeal to a wide range of borrowers’ needs. Common types of mortgage loans include conventional, FHA, VA, USDA Rural, Jumbo, investor programs refinancing products, second mortgage and home equity loans, a reverse mortgage and each have advantages for an ideal borrower. You can also finance a whole range of properties, including single-family homes, multi-family homes, townhouses, condos, manufactured homes. Let’ talk about:
• Getting preapproved for a mortgage
• Difference between a 30-year fixed-rate mortgage vs. adjustable-rate mortgage and even a balloon note
• Documents needed for the loan process
• Loan origination, processes and underwriting
• The life cycle of a loan, how much interest will you pay over the life of loan
It takes about 30 days to get a home loan, for most people. If there are problems with the application, it could take much longer, several months in some cases. There are a lot of reasons why the underwriting of a mortgage may be delayed.
(This class will be live video streamed via Zoom. If you are not already familiar with the Zoom platform, please try and familiarize yourself prior to the class. Click here to contact us if you have any questions.)